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A special savings account with big interest for small people A dedicated high-interest savings account exclusively for under-18 members, designed to help kids save up for something they want.   Deposit a minimum of $5 per month (pocket money!) without making a withdrawal and you will earn 5.55% p.a. interest on balances up to $5,555.   5.55% p.a. is the total of the base interest rate (0.05% p.a.) plus the bonus interest rate (5.50% p.a.). Kids’ Bonus Saver accounts can …

Call usMember Service CentreAustralia: 1300 855 675Outside Australia – +61 3 9869 8700Email [email protected] officeFirst Option Bank LimitedABN 95 087 650 735AFS License No. 236 509Australian Credit License 236 509Level 6, 574 St Kilda RoadMelbourne VIC 3004Postal Address:P.O Box 7063, Melbourne VIC 3004Lost or stolen cardsTo report a lost, stolen or damaged card: Login to your First Option App, go to ‘Manage Cards’ and follow the prompts to cancel your card. Alternatively, cancel your card in Internet Banking or call …

Deposit AccountsCurrent at 1 December, 2023Interest Rates Essentials account packageNote: These accounts are not available for Business memberships.Spend account (S1) Direct your pay into this account for your everyday banking Interest rate from $1 ………. 0.10% p.a. Bills account (S4) Budget for your bills and plan payments from this account Interest rate from $1 ………. 1.00% p.a. Savings+Bonus account (S19) Interest rate on balances from $1 – $249,999 Savings ………. 2.00% p.a. +Bonus* ………. 3.00% p.a. Total interest earned ………. 5.00% …

Inbound Global Transfer (IGT) An Inbound Global Transfer (also known as an Inward Telegraphic Transfer or Inward Wire) is an electronic transfer of funds directly credited to your account from an overseas remitter. In most cases an IGT is the quickest way to receive funds from abroad (an IGT will normally take two-to-three business days to be credited to your account, although this can never be guaranteed). How does an IGT work?The remitter should send the funds in their own …

First Option Bank memberships include three accounts to help you manage your money, easily and effectively…SpendWhen you get paid, your money goes in here and you move what you expect your bills to cost over to your Bills account … what’s left in your Spend account is what you can afford to spend.BillsThe place to put the money for your expected costs each month. Set-up direct debits from here, or use your Visa card or BPay to pay bills when …

Our Board of DirectorsGraeme Yeo (BBus. CPA) is the Chair and non-executive director of First Option Bank. Graeme has extensive senior executive experience in finance, corporate strategy and banking at large private and public institutions and has participated in the running of community not-for-profit organisations. He was a director of TABNSW Credit Union for over 25 years. Graeme’s interests include travel, most sports, community activities and family.Annette Mathews holds a Bachelor of Applied Science from the University of Technology in …

Your Business BankingBank accounts and money-management tools specially for small Businesses, just like Yours!Managing cash can be tricky: getting the best balance between accessibility and a good return, paying the right suppliers the right amount at the right time and making sure your own people get paid, painlessly. Your Business Banking provides a set of tools to manage your business’ money efficiently and effectively. The Business Cash Hub is the transactional hub of the suite, providing financial functionality with the …